Bulls took control of the trading floor at the Pakistan Stock Exchange (PSX) on Tuesday, recovering from a steep decline in share prices recorded the previous day. The PSX’s benchmark KSE-100 index surged by 4,249.68 points (2.61%), closing at 162,693.29 points.

In a positive development, Finance Minister Mohammad Aurangzeb, who is in the USA for the IMF and World Bank annual meetings, expressed optimism that a staff-level agreement with the IMF could be finalized next week.

A total of 416 companies traded today, with 367 recording gains, 35 posting losses, and 14 remaining unchanged.

Market confidence was further boosted by reports that State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $20 million to $14.4 billion, while the rupee appreciated slightly to Rs281.17 against the US dollar.

The National Accounts Committee revised FY25 GDP growth upward to 3.04% from 2.68%, while remittances grew 11% YoY to $3.2 billion in September, bringing the first-quarter total to $9.5 billion, up 8% YoY.

Earlier on Monday, the Pakistan Stock Exchange (PSX) came under sustained pressure as bearish sentiment dominated trading, leading to a sharp market selloff.

The benchmark KSE-100 Index tumbled to an intraday low of 157,678 points, reflecting a steep decline of 5,420 points.

Although some recovery emerged later in the session, the index eventually closed at 158,443 — down 4,654 points or 2.85 percent for the day.

Heavyweight stocks, including Bank Al Habib Limited (BAHL), Engro Corporation (ENGRO), Lucky Cement (LUCK), Oil and Gas Development Company (OGDC), and Mari Petroleum (MARI), were among the major laggards, collectively eroding 1,261 points from the benchmark index.

Despite the sharp downturn, trading activity remained notably strong, with total traded volume recorded at 1,361 million shares and traded value reaching Rs62 billion.

K-Electric Limited (KEL) led the volume chart with 197 million shares changing hands.